You are in the final stretch...and not yet 30.

Price point, area/location, individual investors abilities or finances, individual investor's risk tolerance or business plan, level of rehab, etc.As an example, the 70% rule (more appropriately should be named "70% guideline), is a simple back of the napkin analysis and is NOT ever to be used to make your final purchase decision.

I also want to know and understand what is happening in unit  and finally   and super important - i learn by watching.... 

I've not been able to receive any insurance pay-out yet (from HO-6 or master) as my HO-6 adjuster needs to know how the master deductible will be "split" - a decision that I fear won't be finalized until each of the (four?)

Instead, they just stopped paying their mortgage and didn't receive a foreclosure notice for almost two years because they only had about $150K in equity.And when they finally reached out to bank to renegotiate payments, the bank worked with them because the bank could see the market was still plummeting and that they likely wouldn't be able to sell the house for $500K much less the difference of $600K.On the other hand, their neighbors would refinance when rates dropped but they never took out any equity over 20 years.

Right now I feel like I shot myself in the foot with a $35,000 income increase.I did finally talk to a lender today that seems to understand REI.

I don't mean in SE MI where I am at, I just mean they change fee structure market to market all the time. 

You also need to the resources to do the renovation and also qualify for the final loan.Another way would be to buy the MFH first, live in it, renovate one unit, move into the renovated unit, then renovate the other unit(s). 

The attorney requires a final payoff amount to the hard money lender.

My hopes for real estate investing are to eventually (years from now) secure a semi-passive income stream that requires minimal hands on management.